Lucid Motors, the EV maker, has implemented substantial layoffs for the second time this year, with COO Marc Winterhoff also departing the company. Last year, Lucid launched the large Gravity SUV to accompany the Air sedan in the startup automaker's lineup and bolster sales. Now, the smaller Cosmos SUV is right around the corner, and the Tesla Model Y competitor will aim to truly solidify Lucid's spot in the market.
As of December 31, Lucid has about 9,000 employees globally. The company already laid off around 12 percent of its US workforce back in February, and now it is eliminating an additional 18 percent, which will include full-time employees, contractors, and hourly production workers.
View Price on AmazonThe layoffs are part of a larger restructuring plan to save money, which also includes cutting out the second production shift at the company's factory in Casa Grande, Arizona, which builds both the Gravity and the Air. The plan is intended to save the company around $158 million.
Still, Lucid says the Cosmos will be revealed this summer. The Cosmos is expected to start under $50,000, and its slippery bodywork—Lucid is targeting a 0.22 drag coefficient—should help it achieve more than 30 miles of range. The Cosmos will likely go on sale in 2027 and will be followed by an even sleeker SUV called the Earth and a more off-road-focused SUV built on the same platform.
Source: caranddriver.com
